During the St. Petersburg Economic Forum in Russia this week, Cisco’s VP of Internet Business Solutions Group, Mohsen Moazami, gave his perspective on the need to build broadband infrastructure to support continued development of the Russian economy and outlined Cisco’s commitment to investing in Russia.
Cisco has been an active venture investor in Russia since 2007 and furthered its strategy in July last year with the announcement of an anchor investment in a venture capital fund that will focus on Russia and CIS in collaboration with Almaz Capital Partners. The first investments from this fund were announced in April this year in the Apollo Project and Parallels, Inc. Apollo, the Fund’s first investment, is an early-stage company that allows digital communities and social networking sites to effectively extend their services to mobile devices.Parallels is a later-stage company focused on virtualization and automation software. Parallels’ specific focus is on mass-market cloud service providers offering compute platform, application platform, applications and online services for small and medium-sized businesses.You can check out Mohsen’s interview with Russia Today during the St. Petersburg conference here, and read more about our investment strategy for Russia on the Cisco newsroom here.
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